Invensys Process Systems (IPS), a global technology, software and consulting firm, has entered into a five-year contract with Petrobras, to provide comprehensive safety services and solutions.

Under the arrangement, the company will implement its Triconex safety and critical controls and Avantis asset management technology to upgrade and modernize 11 Petrobras refining facilities throughout Brazil. The contract is valued at $50 million.

In addition, IPS will also supply engineering, systems integration and consulting services to help Petrobras meet its strategic goal of becoming one of the five largest integrated energy companies in the world.

It should be noted that IPS has been providing products and services to Petrobras for more than 50 years.

Pertobras is an international energy giant based in Rio de Janeiro, Brazil, and one of the world’s largest companies.